Meet Cleveland

Getting a business funded in Cleveland is not something you hear about everyday. However, as Cleveland and Ohio in general attempts to re-energize it’s aging manufacturing-based economy, there are several options for the enterprising start-up founder.

JumpStart

JumpStart describes itself as a “venture development organization”. It funds high-growth businesses in Northeast Ohio. JumpStart is a charitable organization. It’s purpose is to accelerate growth of the Northeast Ohio economy through pro-bono advising to startups, business plan reviews, and funding of some of the companies that come across their path. Funding involves JumpStart taking an equity stake in the company. The web site is well laid out and contains a lot of useful information. Anyone with a high growth start-up idea can be a part of their investment process.

IdeaCrossing

IdeaCrossing is a site started by Jump Start to help entrepreneurs connect with advisors and capital. Once an entrepreneur has joined the site, their profile is analyzed and their information is automatically submitted to qualified investors. This site does not seem to be limited to Ohio businesses, but most of the activity seems to be in that region. Entrepreneurs can join the site and submit a profile outlining their business ideas. A formal business plan is not required but is probably helpful. For privacy reasons, investor information is kept private. Entrepreneurs then wait to be contacted by potential investors. The site also provides news feeds related to Northeast Ohio business and provides the ability for users to upload interesting stories and comment on them. The site seems decently active and is well laid out and easy to use.

I am actively searching for additional companies to add to this list and will post them as I find them. Please feel free to contact me with any additional funding channels specific to Northeast Ohio.